Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
Income Tax : Learn the updated provisions governing rectification, assessments, reassessments, and appeals under the Income-tax Act. This guide...
Income Tax : The article explains how the Finance Acts, 2025 and 2026 have reshaped the Updated Return regime under Section 139(8A). It highlig...
Income Tax : The Supreme Court has remitted reassessment cases for fresh consideration after the retrospective insertion of Section 147A, leavi...
Income Tax : This article explains why reassessment proceedings may be invalid if the Assessing Officer merely relies on Investigation Wing rep...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : Discover how Finance Act 2021 revamped assessment and reassessment procedures under Income-tax Act, impacting notices, time limits...
Income Tax : Humble Representation for modification of Section 151 of the Income Tax Act relating to Sanction for issue of Notice under sec. 14...
Income Tax : Income Tax Gazetted Officers’ Association requested CBDT to issue Clarification in respect of the judgement of Hon’ble Supreme...
Income Tax : In view of Indiscriminate notices by income Tax Department without allowing reasonable time it is requested to Finance Ministry an...
Income Tax : Where unaccounted sales were established through seized material, only the net profit embedded therein was liable to tax, and not ...
Income Tax : ITAT Mumbai remanded the case to examine whether Section 56(2)(x) applied based on the agreement date and to consider refund of ex...
Income Tax : ITAT Bangalore remanded a Section 69A addition after holding that an APMC commission agent's entire sale proceeds could not be tre...
Income Tax : ITAT Kolkata condoned appeal delay, set aside the CIT(A)'s order, and remanded the assessment for fresh adjudication after grantin...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : The department has identified high-risk cases through its Insight Portal for AYs 2022-25. It directs officers to initiate reassess...
Income Tax : ITAT Chandigarh held that ITO Ward-3(1), Chandigarh had no jurisdiction to issue notice to an NRI and hence consequently the asses...
Income Tax : Explore the latest guidelines for issuing notice under Section 148 of the Income Tax Act, 1961. Understand key procedures, amendme...
Income Tax : Explore e-Verification Instruction No. 2 of 2024 from the Directorate of Income Tax (Systems). Detailed guidelines for AOs under I...
Income Tax : Supreme Court in the matter of Shri Ashish Agarwal, several representations were received asking for time-barring date of such cas...
The Tribunal ruled that the Income Tax Department cannot pass two reassessment orders for the same assessment year, same transaction, and same addition. The first reassessment proceedings were held legally unsustainable.
The Mumbai ITAT reaffirmed that lease rentals from SEZ and IT Parks along with amenities are taxable as business income. The ruling relied on CBDT Circular No. 16/2017 and multiple judicial precedents supporting taxpayers.
The ITAT Delhi held that reassessment notices issued after expiry of the surviving limitation period under the amended reassessment regime were invalid. The Tribunal quashed the reopening proceedings and related penalties for both assessment years.
The Pune ITAT held that entire cash deposits in bank accounts cannot automatically be treated as unexplained income when the assessee appears to be only a conduit in an accommodation entry network. The Tribunal restricted the taxable addition to 2% of deposits after finding no evidence of actual enrichment.
Pune ITAT held that penalty for under-reporting of income cannot survive where the Assessing Officer accepts the income declared in response to notice under Section 148 without any addition. The Tribunal deleted the entire penalty under Section 270A.
Madras High Court held that a reference to the District Valuation Officer was valid because the Assessing Officer had effectively rejected the books of accounts after recording discrepancies. The Court upheld the Section 69B addition for unexplained investment in building construction.
Pune ITAT observed that reassessment proceedings initiated beyond three years may not be maintainable where the alleged escaped income is below ₹50 lakh. The matter was remanded for verification of jurisdictional facts and statutory notices.
ITAT Kolkata set aside the appellate order after observing inconsistencies between the findings of the CIT(A) and the assessment order. The Tribunal directed fresh adjudication with a reasoned speaking order and proper opportunity of hearing.
ITAT Kolkata held that entire bogus purchases must be added under Section 69C where the supplier was proved to be a paper entity and no evidence of actual delivery of goods existed. The ruling reiterates that bank payments and invoices alone cannot establish genuineness.
Gujarat High Court held that reassessment proceedings could not continue where Revenue failed to establish any independent material connecting assessee to alleged cash transactions. Section 148 notice based solely on a broker’s seized register was quashed.
